Pennsylvania Real Estate Investment Trust (NYSE:PEI) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

PEI has been the topic of a number of other reports. Boenning Scattergood lowered Pennsylvania Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a report on Monday, May 15th. Mitsubishi UFJ Financial Group lowered Pennsylvania Real Estate Investment Trust from an “overweight” rating to a “neutral” rating and cut their price target for the company from $16.00 to $12.00 in a report on Thursday, August 24th. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Citigroup Inc. lowered their target price on Pennsylvania Real Estate Investment Trust from $13.50 to $12.50 and set a “neutral” rating on the stock in a research report on Monday, August 14th. Finally, BidaskClub raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $15.00.

Pennsylvania Real Estate Investment Trust (PEI) opened at 10.19 on Friday. Pennsylvania Real Estate Investment Trust has a 12 month low of $9.84 and a 12 month high of $25.43. The firm has a 50-day moving average price of $11.22 and a 200 day moving average price of $12.82. The firm’s market capitalization is $711.54 million.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $89.25 million for the quarter, compared to analyst estimates of $95.60 million. Pennsylvania Real Estate Investment Trust had a negative return on equity of 9.06% and a negative net margin of 18.13%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 earnings per share. On average, equities analysts forecast that Pennsylvania Real Estate Investment Trust will post ($0.40) EPS for the current year.

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In related news, CFO Robert F. Mccadden bought 10,000 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were acquired at an average price of $10.88 per share, with a total value of $108,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George J. Alburger, Jr. bought 5,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average cost of $11.78 per share, for a total transaction of $58,900.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $58,900. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 25,000 shares of company stock worth $283,400. 4.40% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in PEI. Mckinley Capital Management LLC Delaware bought a new stake in Pennsylvania Real Estate Investment Trust during the first quarter worth about $132,000. Dupont Capital Management Corp increased its position in shares of Pennsylvania Real Estate Investment Trust by 77.4% in the second quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 5,117 shares during the period. SG Americas Securities LLC increased its position in shares of Pennsylvania Real Estate Investment Trust by 46.3% in the second quarter. SG Americas Securities LLC now owns 14,618 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 4,624 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Pennsylvania Real Estate Investment Trust during the second quarter worth $171,000. Finally, BlueCrest Capital Management Ltd increased its position in shares of Pennsylvania Real Estate Investment Trust by 13.6% in the second quarter. BlueCrest Capital Management Ltd now owns 15,152 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 1,818 shares during the period. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Pennsylvania Real Estate Investment Trust Company Profile

Pennsylvania Real Estate Investment Trust (PREIT) is a self-managed and self-administered real estate investment trust (REIT). The Company’s primary business is owning and operating retail shopping malls, which it does primarily through operating partnership, PREIT Associates, L.P. (PREIT Associates).

Analyst Recommendations for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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